A decrease in the money wage rate
What will be an ideal response?
increases the short-run aggregate supply.
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A decrease in population would shift the demand curve to the left
Indicate whether the statement is true or false
According to the graph shown, if this economy were to open to trade, surplus would do all of the following except:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. increase overall.
B. decrease for the producer.
C. transfer from producer to consumer.
D. create deadweight loss of CEFG.
From the mid-1980s until late 2007, many world economies became less volatile because of
A. sound macroeconomic policies. B. several structural change that made the economies more flexible. C. good luck. D. All of these responses are correct. E. a through c only
Which would make it easier to maintain an effective collusive agreement in a cartel?
A. The emergence of a number of potential entrant firms. B. A new method of pricing that makes it more difficult for firms in the cartel to determine the prices at which other cartel members are selling their product. C. A decrease in the elasticity of demand for the cartel's product. D. An increase in the number of substitutes for products produced by the cartel.